The solid-state battery startup expects to be able to produce 200,000 cells. The future is solid. In addition, the solid-state battery does not have a classic anode. Now that the Tesla batteries are the size of a very small can of softdrink, you can easily compare it to that volume of softdrink. Were on a mission to revolutionize energy storage and power a decarbonized future, and were starting with transportation. I think consumer electronics (like cell phones) developers worry more about Wh/L and electric car developers worry more about Wh/kg. The pilot-line facility, QS-1, will initially be a 1-gigawatt hour (GWh) battery cell commercial production plant for electric vehicle batteries. QuantumScape Reports Third Quarter 2022 Business and Financial Results. The companies currently contemplate Salzgitter, Germany for the location. In February, it was still said that QuantumScape wanted to spend between 230 and 290 million US dollars (about 190 to 240 million euros) in the current year to continue the development of its solid-state battery cells and to build the QS-0 factory. Please contact the developer of this form processor to improve this message. The server responded with {{status_text}} (code {{status_code}}). QuantumScape hopes to provide cells for a few hundred test vehicles each year with it for all manufacturers interested in them. Pamela Fong is QuantumScapes Chief of Human Resources Operations, leading people strategy and operations, including talent acquisition, organizational development and employee engagement. Its solid-state battery cell technology has an energy density, enhanced safety, fast charging capability, and small size. Let's . Prologium is another solid-state battery company but they have had a 40MWh/year pilot plant in operation since 2017. Initially, it will have a 1 GWh production capacity. It an investment of 200 million euros from Volkswagen, performance data of prototype cells for the first time in December 2020, FC specialist Loop Energy launches cooperation in Germany, Twaice improves development with battery model library, Outlook: These electric cars are coming in 2023, 2022 in review: Rediscover the most popular articles in each month. entering your email below. The company hopes to work alongside experienced battery scientists in the Asia-Pacific region to further develop and manufacturer it battery technologies for electric vehicles. Date: May 4 Amount: $103.8 million. Except as otherwise required by applicable law, QuantumScape disclaims any duty to update any forward-looking statements. Free-Float. As the chart above shows, QuantumScape expects its solid-state cells to be far more energy-dense than the conventional lithium-ion cells with silicon or carbon anode. QuantumScape's cells use a solid-state separator in place of the porous separators used in conventional lithium-ion batteries. QuantumScape, which was founded in 2010, went public via a merger with a special-purpose acquisition company, or SPAC. The factory will make early production versions of the company's advanced electric. QuantumScape Corporation is engaged in developing battery technology for electric vehicles (EVs) and other applications. QuantumScape made the plans for a pilot plant in San Jos public a few weeks ago when it announced its financial results. 59,9%. in Business Administration from U.C. QuantumScape has also collaborated with Fluence Energy (FLNC 2.40%) to supply batteries for use in the latter's storage products. Called QS-0, the plant is expected to be capable of producing over 100,000 units of solid-state cells per year. Quantumscape is a solid-state battery company that has funding from Volkswagen and Bill Gates. For more information, please visit www.quantumscape.com. Dr. Holme holds a B.S. Also, silicon anodes, by definition cannot produce a denser battery than a solid state battery that uses NO anodes at all. QuantumScape is on a mission to transform energy storage. The company believes that its solid-state batteries will be far more energy-dense than the lithium-ion batteries in use right now. We are thrilled to see QuantumScapes investment in our community and their commitment to bringing advanced battery development and local manufacturing jobs to North San Jose.. I hope they fire the Head of Designer. QuantumScape is funded by 10 investors. The new site in North San Jose is minutes from its current location, which will retain its central role in the companys research and development activities. After a Scorpion Capital report claimed QuantumScape was a pump-and-dump SPAC scam, the solid-state battery startup could not seem to care less. Our goal has been to bring our solid-state lithium-metal batteries to market as soon as possible, said Jagdeep Singh, CEO and co-founder of QuantumScape. You are buying everything these startups are telling you. QuantumScape has a post-money valuation in the range of $1B to $10B as of Jun 17, 2020 . QuantumScape is a battery technology company founded in 2010 with the goal of developing scalable, effective solid-state batteries that can (hopefully) reach cost parity with traditional lithium . [2] At the same time, the company's shares will be listed on the New York Stock Exchange under the symbol QS. QuantumScape has been promising to present not only a solid-state platform that will work with any lithium-ion chemistry. Founded in 1993 by brothers Tom and David Gardner, The Motley Fool helps millions of people attain financial freedom through our website, podcasts, books, newspaper column, radio show, and premium investing services. A frequent speaker at corporations, he has been a TEDx speaker, a Singularity University speaker and guest at numerous interviews for radio and podcasts. Mr. Singh is QuantumScapes Chief Executive Officer and Chairman of the Board of Directors. (adsbygoogle = window.adsbygoogle || []).push({}); Solid-state battery specialist QuantumScape plans to issue 13 million new shares. With reporting by Cora Werwitzke, France. The pilot line will be based in San Jose and will be called QS0. All statements other than statements of historical fact contained in this article, including statements regarding the future development of QuantumScapes battery technology, the anticipated benefits of QuantumScapes technologies and the performance of its batteries, and plans and objectives for future operations, are forward-looking statements. Ms. Fong holds a B.S. {{#message}}{{{message}}}{{/message}}{{^message}}Your submission failed. In this context, the US-Americans are aiming for another pilot plant called QS-1 with a capacity of 1 GWh, which will later be successively expanded to a total capacity of 21 GWh for series production. As we shift into the next phase of our growth trajectory, developing advanced manufacturing capabilities becomes more critical. Called QS-0, it will help the company accelerate the development of its solid-state batteries and deliver up to 100,000 engineering cell samples from 2023 on. This article contains forward-looking statements within the meaning of the federal securities laws and information based on managements current expectations as of the date of this current report. Moreover, QuantumScape's cells do not have an anode at the time of manufacturing; a lithium-metal anode is formed when the cells are charged. QuantumScape (NYSE: QS), a startup that is developing solid-state lithium metal batteries for electric vehicles, has seen its stock price decline by close to 45% year-to-date and by about 80% from . An expansion of capacity by more than double would thus lead to an output of more than 200,000 samples. Expansion to three new facilities to scale advanced manufacturing capabilities. The pilot-line facility, QS-1, will initially be a 1-gigawatt . Thanks to private funding from Volkswagen and a recent SPAC deal to go public (NYSE: QS), they have plenty of cash to finance this investment. Source: QuantumScape via Green Car Congress. This will not happen. Quantumscape plans to go public with a SPAC deal before the end of the year. The company is headquartered in San Jose, California and employs around 400 people. QuantumScape is a leader in developing next-generation solid-state lithium-metal batteries for use in electric vehicles. It successfully tested 10-layer cells in 2021. The company will take possession of the new buildings and begin outfitting the facilities for specific purposes starting in January 2022. QuantumScape Corporation (NYSE:QS) today announced it has shipped its first 24-layer prototype lithium-metal battery cells to automotive OEMs for testing. Their QS share price forecasts range from $4.00 to $27.00. ADVERTISEMENT In addition, the solid-state battery is said to be extremely fireproof and to function on a broad temperature continuum without a major drop in performance even in cold temperatures as low as minus 30 degrees. Prior to joining the company, Ms. Fong served as the Vice President of Global Human Resources at PDF Solutions (NASDAQ: PDFS), a semiconductor SAAS company. QuantumScape Publishes Inaugural Environmental, Social and Governance Report . Tesla uses a dry electrode, where "dry" doesn't describe the battery but rather is a simplified manufacturing process that reduces manufacturing cost. in Computer Science from the University of Maryland College Park, an M.B.A. from the University of California, Berkeley, Haas School of Business, and a M.S. QuantumScape's batteries may increase electric vehicles' range considerably for the same battery size. They were excellent and well made. Prior to joining the company, Ms. Fong served as the Vice President of Global Human Resources at PDF Solutions (NASDAQ: PDFS), a semiconductor SAAS company. After the new announcements from the stock exchange release and the new share issue, these statements may already be outdated. The expanded plant would start producing in 2027. If things go as per QuantumScape's plans, the company will have a huge market for its cells. Much of the new space will be dedicated to manufacturing, ultimately expanding the footprint and overall capacities of its existing QS-0 and development buildings, and affords QuantumScape the necessary space to scale up manufacturing and execute on its development timeline. Youre reading a free article with opinions that may differ from The Motley Fools Premium Investing Services. QuantumScape had already received fresh capital at the end of 2020 through its IPO itself and last summer through an investment of 200 million euros from Volkswagen, among others. builds on the email briefing we publish Made in Germany! QuantumScape completed its 2021 milestones as planned. The company plans to continue aggressive hiring of world-class talent through 2022 and beyond. [1] Investors include Bill Gates and Volkswagen. It has been claimed that solid-state batteries would enable Volkswagen and Toyota to leapfrog Tesla battery technology. The Tesla and Panasonic veteran was a key hire when she joined QuantumScape to help bring battery innovations from the lab to the factory floor. in Management from Stanford Graduate School of Business. QuantumScape said it has begun shipping "A0" samples of its battery cells to its automaker clients. Ms. Fong holds a B.S. This article contains forward-looking statements within the meaning of the federal securities laws and information based on managements current expectations as of the date of this current report. Even if they execute flawlessly, they will have too little capacity to matter and the prices will be too high. "We are planning to build a factory that can manufacture about 250,000 vehicles per year, and a Gigafactory to manufacture battery cells and the pack. Brian Wang is a Futurist Thought Leader and a popular Science blogger with 1 million readers per month. 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